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Gov. Kasich proposes new tax cut package

As he heads into a fall re-election bid, Ohio Gov. John Kasich is proposing a package of new tax cuts developed in cooperation with fellow Republicans in the state Legislature.

Kasich proposes accelerating a planned 10 percent income tax reduction by six months, reducing withholding rates on the final 1 percent in July rather than December. He would also boost small business income-tax reductions to 75 percent from 50 percent for tax year 2014.

Changes also would double Ohio's earned income tax credit from 5 percent to 10 percent for low-income taxpayers and increase personal income-tax exemptions for Ohioans making under $80,000 a year.

The estimated $402 million in cuts were being woven into one of four midterm budget bills making their way through the GOP-led Ohio Senate on Tuesday.

Comments

MrSandusky

Wed, 05/21/2014 - 6:58am

Haters are going to hate, but we should all be thankful that this guy got elected. We as a State have had a massive turnaround in the last 3.5 years under his leadership.

Dinghy Gal

Wed, 05/21/2014 - 7:00am

Hey SR, we know you lean Dem, and it's an election year, but couldn't you come up with a more flattering pic if the Governor of our state?

Pterocarya frax...

Wed, 05/21/2014 - 7:21am

Actually, that is about as good as it gets for occupant of the governor's mansion. Oh wait, I forgot....he doesn't live in the governor's mansion.

Oh, and it is quite clear, by the stories they don't run, that this paper does NOT lean left (except on gay rights issues).

Bottom Line

Wed, 05/21/2014 - 12:24pm

As usual ptero is 100℅ brain dead. If you don't think this newspaper leans as far left as it gets you are more ignorant than I imagined possible.

Contango

Wed, 05/21/2014 - 7:13am

Re: "boost small business income-tax reductions to 75 percent from 50 percent for tax year 2014."

Headed in the right direction.

Sm. business is the backbone of employment and the engine of job creation.

Good to see some politico who knows that the private sector and not govt. creates jobs.

The PERMANENT top state business and personal marginal income tax rate should be: 0%

SamAdams

Wed, 05/21/2014 - 9:22am

Good for Governor Kasich. Even BETTER for Ohio!

njs60

Wed, 05/21/2014 - 10:14am

He'll cut more funding to schools and local governments to pay for it

JMOP

Wed, 05/21/2014 - 10:49am

You know this how?

Sanduskyloveito...

Wed, 05/21/2014 - 11:04am

njs60...I agree with you. If we want services we have to pay taxes. How did we lose sight of this fact????

The Big Dog's back

Wed, 05/21/2014 - 11:37am

Oh boy, you can tell it's re-election time. Repubs offering tax cuts.

Pete

Wed, 05/21/2014 - 12:31pm

Is Fitz going to run on a platform of raising taxes? I can hear his speech now:

"My fellow Buckeyes, I am going to ask that your taxes be raised Eleventy-Hundred percent so I can kick back your money to the OEA and AFSCME. This is repayment for the money they funneled to my campaign. I know this will be a hardship on the average Ohioan, but you can take solace in knowing that raises will be given to every government worker in the state!"

Kasich is an idiot. At a time when taxes are historically low, at a time when our public schools have already been eviscerated with huge cuts in funding from the state, at a time when our roads and bridges are literally falling down - in short, at a time when additional revenue is needed to keep things running - he is cutting incoming revenue.

Hey, Sam! Please explain how making additional cuts to basic services - that we all need - will help Ohioans. Please explain how we will pay for things with even less money than the state currently has available for basic operations?

Jeez, I hope that people wise up and vote Kasich out of office. It's really simple: if you don't have enough money to pay your bills, the last thing you should do is ask your boss for a pay cut. In essence, this is exactly what Kasich is doing. That leaves us with two obvious "solutions": either we have to pay higher taxes locally, to make up for the lost revenue at the state level, or we can sit and watch our schools, roads, bridges, etc. continue to crumble.

This is NOT the kind of "leadership" Ohioans need or deserve.

Contango

Wed, 05/21/2014 - 12:55pm

Re: "At a time when taxes are historically low,"

As usual: Send 'em some cash and dig deep.

They won't refuse it.

Perhaps state "taxes" are marginally "low," but add up the state and local sales taxes & service fees in addition to local income and property taxes.

The overall percentage of money going from the private to the public pocket is historically high.

It isn't all JUST state income tax Sport.

wasthere

Wed, 05/21/2014 - 3:36pm

Does anyone even care what coasterfan has to say about any republicans any more? This clown thinks that if you are a democrat, your body waste turns to gold. He must be very gold.

SamAdams

Wed, 05/21/2014 - 3:46pm

Taxes are FAR from "historically low." That's the primary reason Ohio has lost many businesses. By lowering taxes for small businesses, struggling businesses are helped and those considering a start-up are encouraged. That, in turn, creates more jobs which obviously creates more INCOME tax income.

Lowering taxes on the lowest paid but not the much-maligned 1% is something I thought you'd get behind, Coasterfan! But nope, like a true Democrat, you apparently never saw a tax you didn't like, or somebody else to whom a hard-working citizen's money shouldn't be redistributed!

He's also helping the teachers by giving them a years reprieve on state testing along with the same amount of funding regardless of the report card. Here's the link to that.http://m.toledoblade.com/State/2...

Contango

Wed, 05/21/2014 - 1:01pm

Funny how the progressive-socialists b*tch that minimum wage workers should be given raises and then when a politico suggests that cutting taxes would allow 'em to keep more of what they earn (a raise) they complain that taxes need to go higher.

KURTje

Wed, 05/21/2014 - 1:05pm

Glad he & his cronies could not get a pay raise like they wanted. (When he was elected)